Last checked at 21 Apr 2021 07:00
21 April 2021
Parity Group plc
("Parity" or the "Group")
Changes to the Board
Parity, the data and technology-focussed professional services company, announces today that John Conoley has decided to step down from his role as Non-Executive Chairman. John will be replaced by Mark Braund, who joins the board with immediate effect.
Mr Braund, is currently Executive Chairman of the specialist cleaning, hygiene and decontamination company React Group PLC. Mark previously held the position of CEO at RedstoneConnect Plc, a provider of technology and services for smart buildings and commercial spaces and led the business through a well-documented turnaround, overseeing the sale of profitable legacy assets and the carve-out of the software technology business now known as Smartspace Software Plc.
Commenting, John Conoley said: "Parity has made great progress over the past few years. Having completed its transformation into a data and technology focused business, I leave Parity in a strong position: it is for the first time free from past legacy issues; it has successfully refinanced with better terms than before; and in its full year 2020 results has delivered an impressive market leading performance despite the challenges of the pandemic. Now is the right time for me to hand over the reins as Chairman and I wish Mark every success in his new position."
Matthew Bayfield, CEO of Parity, said: "On behalf of the Board I would like to thank John for his guidance and counsel through Parity's period of transition. He leaves us well placed for growth and we wish him every success for the future.
"I would also like to welcome Mark to the Group. Mark has fantastic experience in the technology sector and is known for his strong track record in supporting Executive teams to deliver profitable and sustainable change whilst materially improving shareholder value. His expertise will be invaluable as we deliver Parity's new strategy following our recent transformation."
Mark Braund, Non-Executive Chairman of Parity, said: "Parity is an excellent, progressive business that has spotted a clear opportunity for itself in the data-focused professional services space. I am very pleased to be joining the Group and I look forward to working with Matthew and the Executive team."
-ENDS-
Contacts |
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Parity Group PLC | www.parity.net |
Matthew Bayfield, CEO | + 44 (0) 208 543 5353 |
Mike Johns, CFO |
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finnCap Group PLC | https://www.finncap.com/
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Jonny Franklin-Adams / Simon Hicks / Fergus Sullivan | +44 (0) 20 7220 0500 |
Tim Redfern / Charlotte Sutcliffe |
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Houston | Parity@Houston.co.uk |
Kate Hoare / Alexander Clelland | +44 (0) 204 529 0549 |
The following information is disclosed in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies:
Mr Mark Andrew Braund, aged 59, is currently director of:
Mark & Lyn Braund Partnership
REACT Group Plc
Wydelta Limited
He has been a director of the following in the last 5 years:
Anders Elite Corporate Trustee Limited
Anders Elite Holdings Limited
RedstoneConnect Plc (formerly COMS Plc and now Smartspace Software Plc)
Regen Computing Limited
Mr Braund does not currently hold any ordinary shares in the Company. There are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.